Markets Begin Lower On First Day Of November Series

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Indian markets opened the day higher on the first day of the November F&O series, even as the October series remained volatile. However, into a few seconds and the markets slumped into the red on persistent selling in IT stocks.

This series will also coincide with the US Presidential elections and the results of major corporates in India. This could add to extra volatility in the markets.

Markets Begin Lower On First Day Of November Series
The Sensex was trading with losses of 84 points, while the Nifty was lower by 16 points at 5,598 points, dipping below the 8600 points level.

Tata group stocks which were hammered put of shape in the last few trading sessions, managed to show some signs of stability.

Shares in Tata Motors gained ground, while Tata Global Beverages was also trading higher. Axis Bank, which saw large scale selling, post its results, managed to show some gains and was higher by 0.50 per cent at Rs 486.

Eicher Motors was higher ahead of its results to be declared later today. Markets are expecting another blockbuster set of results from the company.

Software stocks were lower with Infosys Technologies hitting a new 52-week low in trade. TCS and Wipro were the other stocks that lost ground in trade.

Meanwhile, the rupee was at Rs 66.86 to the US dollar.

Read more about: sensex, nifty
Story first published: Friday, October 28, 2016, 9:30 [IST]
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